Division of Income-Multiple Bases The partnership agreement of Angela and Dawn has the following provisions: The partners are to earn 10 percent on the average capital. Angela and Dawn are to earn salaries of $25,000 and $15,000, respectively. Any remaining income or loss is to be divided between Angela and Dawn using a 70:30 ratio. Angela's average capital is $50,000 and Dawn's is $30,000. Prepare an income distribution schedule assuming the income of the partnership is (a) $80,000 and (b) $20,000. If no agreement exists, what does the UPA 1997 prescribe as the profit or loss distribution percentages